Level Four Advisory Services LLC Grows Stake in Truist Financial Co. (NYSE:TFC)

Level Four Advisory Services LLC grew its holdings in shares of Truist Financial Co. (NYSE:TFC) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 41,114 shares of the insurance provider’s stock after buying an additional 386 shares during the period. Level Four Advisory Services LLC’s holdings in Truist Financial were worth $1,784,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bangor Savings Bank raised its holdings in Truist Financial by 92.5% in the 4th quarter. Bangor Savings Bank now owns 566 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 272 shares in the last quarter. Hopwood Financial Services Inc. purchased a new position in shares of Truist Financial during the fourth quarter valued at about $26,000. Curio Wealth LLC bought a new position in Truist Financial in the fourth quarter worth about $45,000. True Wealth Design LLC purchased a new stake in Truist Financial in the third quarter worth about $51,000. Finally, City State Bank boosted its position in Truist Financial by 158.1% during the 4th quarter. City State Bank now owns 1,169 shares of the insurance provider’s stock valued at $51,000 after acquiring an additional 716 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.

Truist Financial Stock Down 2.3 %

Shares of Truist Financial stock opened at $40.46 on Friday. Truist Financial Co. has a twelve month low of $35.09 and a twelve month high of $49.06. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The company’s 50 day moving average is $44.78 and its 200 day moving average is $44.42. The company has a market cap of $52.81 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

Truist Financial (NYSE:TFC) last released its quarterly earnings results on Friday, January 17th. The insurance provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. The firm had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Truist Financial had a return on equity of 9.32% and a net margin of 15.59%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 EPS. Research analysts anticipate that Truist Financial Co. will post 4 EPS for the current year.

Truist Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 5.14%. The ex-dividend date of this dividend was Friday, February 14th. Truist Financial’s payout ratio is currently 62.46%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wells Fargo & Company lowered their target price on Truist Financial from $52.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday. StockNews.com raised Truist Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 17th. Citigroup reduced their target price on shares of Truist Financial from $51.00 to $44.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Robert W. Baird raised shares of Truist Financial from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $48.00 to $52.00 in a research report on Wednesday, March 5th. Finally, Piper Sandler upped their price objective on shares of Truist Financial from $46.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Truist Financial presently has an average rating of “Moderate Buy” and a consensus price target of $50.68.

Truist Financial Profile

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.